Scripscan:Foseco India Ltd
cmp:580
Code:500150
Story:Foseco India is the leading supplier of metallurgical chemicals for ferrous and non-ferrous foundry industry. Company adds value to its customers through provision of products and expertise that improves customer's productivity and product quality. Foundries manufacture castings which in turn find application in a wide spectrum of industries – automotive, steel, petrochemicals, construction and mining, agricultural and textile machinery etc. With Indian economy growing at 7-8% p.a., there is an uptrend in infrastructure & construction and mining sector.Automobile industry too is on an upswing. Growth in its user segment in turn augurs well for foundry industry. Moreover, India is emerging as a key outsourcing hub for various casting products that emerge from foundry industry. Higher demand for castings from global as well as domestic market has led to increasing investment in expanding foundry capacity. Foseco is well positioned to benefit from these trends through implementation of Solutions Partner strategy, supported by global Foseco network and access to foundry process best practice that it provides. In view of sound business prospects,I suggest to "BUY" the share at CMP with expectation of a 20-25% yearly return.
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